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Japanese shares fall for fourth day as pandemic fears rise

Published 02/27/2020, 12:05 PM
Updated 02/27/2020, 12:08 PM
Japanese shares fall for fourth day as pandemic fears rise

TOKYO, Feb 27 (Reuters) - Japan's Nikkei share average fell
for a fourth day on Thursday as investors were spooked by the
rapid expansion of the global coronavirus outbreak, with the
United States reporting its first possible community spread.
By 0338 GMT, the Nikkei share average .N225 fell 1.84% to
22,013.23, flirting with its lowest level since mid-October.
The broader Topix .TOPX lost 1.94% to 1,574.93, with 90%
of main board shares in the red.
Investors are increasingly worried that the virus, which has
already caused massive economic disruption in China, is becoming
a pandemic.
The U.S. Centers for Disease Control and Prevention
confirmed an infection of the new coronavirus in California in
someone who had not travelled outside the United States or been
exposed to a person known to have the virus.
All of the Tokyo Stock Exchange's 33 industry subindexes
fell, led by a 4.5% drop in the air transport index .IAIRL.T .
ANA Holdings 9202.T fell 4.8%, while Japan Airlines
9201.T lost 4.3%.
Brokerage shares .ISECU.T , highly sensitive to economic
cycles, declined 3.7%, while retailers .IRETL.T shed 3%.
The index of Mothers start-up shares .MTHR dropped 3.8% to
trade near its December 2018 trough.
On the other hand, food delivery services firms were one of
the few bright spots.
Oisix Ra Daichi 3182.T rose 3.2%, while Fundely 3137.T
gained 7.6% and Demae-can 2484.T climbed 5.4%.
Kyorin Holdings 4569.T rose almost 10% following a report
that its subsidiary has developed a coronavirus test kit that
can cut test time to less than 30 minutes from current 6 hours.

(Editing by Subhranshu Sahu)

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